2022-09-012023-08-312023-08-31false07747510B MASSEY 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B MASSEY LIMITED

Registered Number
07747510
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

B MASSEY LIMITED
Company Information
for the year from 1 September 2022 to 31 August 2023

Directors

MASSEY, Brian
MASSEY, Joanna Edith

Registered Address

35 St. Leonards Road
Northampton
NN4 8DL

Registered Number

07747510 (England and Wales)
B MASSEY LIMITED
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets6744992
744992
Current assets
Stocks73,9006,540
Debtors87,11216,533
Cash at bank and on hand33,5719,922
44,58332,995
Creditors amounts falling due within one year9(28,763)(19,809)
Net current assets (liabilities)15,82013,186
Total assets less current liabilities16,56414,178
Provisions for liabilities10(141)(189)
Net assets16,42313,989
Capital and reserves
Called up share capital100100
Profit and loss account16,32313,889
Shareholders' funds16,42313,989
The financial statements were approved and authorised for issue by the Board of Directors on 18 December 2023, and are signed on its behalf by:
MASSEY, Joanna Edith
Director
Registered Company No. 07747510
B MASSEY LIMITED
Notes to the Financial Statements
for the year ended 31 August 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is Electrical Installation.
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery50
Office Equipment25
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year11
6.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 September 224791,5212,000
At 31 August 234791,5212,000
Depreciation and impairment
At 01 September 224795291,008
Charge for year-248248
At 31 August 234797771,256
Net book value
At 31 August 23-744744
At 31 August 22-992992
7.Stocks

2023

2022

££
Work in progress3,9006,540
Total3,9006,540
8.Debtors

2023

2022

££
Trade debtors / trade receivables66013,476
Other debtors4,5492,662
Prepayments and accrued income1,903395
Total7,11216,533
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Taxation and social security23,03411,727
Other creditors3,8246,257
Accrued liabilities and deferred income1,9051,825
Total28,76319,809
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)141189
Total141189